In an interview with CNBC on Thursday, European Central Bank (ECB) chief economist Philip Lane said that wages are moving in the right direction but argued that they have to take their time to move from holding to reducing policy restrictions, per Reuters.

Lane added that they mush avoid giving clear guidance and that they have to make policy decisions on a meeting-by-meeting basis.

Market reaction

These comments failed to trigger a noticeable market reaction and EUR/USD was last seen losing 0.07% on the day at 1.0940.